• ROBUST CANADIAN JOBS REPORT IN SEPTEMBER

    Kolbi Turner   |  

    Dr. Sherry Cooper

      DR. SHERRY COOPER

      Chief Economist, Dominion Lending Centres

    first time home buyer mortgage Vancouver, BC

    The Canadian jobs market continued to surprise on the high-side–on track for one of its best years on record. This provides further confirmation to the Bank of Canada that additional easing in monetary policy is not necessary. The economy added 53,700 jobs in September, well above expectation, taking the year-to-date jobs gain to just over 358,000, the most in the first nine months of a year since 2002. The economy added 70,000 full-time jobs in September, with part-time employment down 16,300. Canada has added almost 300,000 new full-time jobs this year.

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  • AUGUST DATA CONFIRM THAT HOUSING HAS TURNED THE CORNER

    Kolbi Turner   |  

    Mortgage Brokers In Vancouver

    Statistics released today by the Canadian Real Estate Association (CREA) show that national home sales rose for the sixth consecutive month. Transactions are now running almost 17% above the six-year low reached in February 2019, but remain about 10% below highs reached in 2016 and 2017. Toronto, Montreal and Vancouver all saw sales and prices rise. CREA updated its 2019 sales forecast, now predicting a 5% gain this year. Gains were led by a record-setting August in Winnipeg and a further improvement in the Fraser Valley. These confirm signs that the country’s housing market is returning to health.

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  • FIRST TIME HOME BUYERS INCENTIVE PROGRAM

    Kolbi Turner   |  

    Mortgage Brokers In Vancouver

    The new First Time Home Buyer Incentive program from CMHC (Canadian Mortgage and Housing Corporation) was officially released on September 2. This program was met with mixed reactions across the mortgage industry, but we wanted to take a minute to give you the facts regarding the program. Below are the key points you need to know, and as always if you do have any further questions please reach out to us.

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  • BANK OF CANADA MAINTAINS OVERNIGHT RATE AND RAISES 2019 FORECAST

    Kolbi Turner   |  

    Dr. Sherry Cooper

      DR. SHERRY COOPER

      Chief Economist, Dominion Lending Centres

    Mortgage Brokers In Vancouver

    The Bank of Canada held the target overnight rate at 1.75% for the sixth consecutive decision and showed little willingness to ease monetary policy, as stronger domestic growth offsets the risk of mounting global trade tensions. There has been ongoing speculation that the Bank of Canada would be pushed into cutting interest rates by the Fed. I do not believe the Bank will let the US dictate monetary policy when the Canadian economy is clearly on the mend.

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  • MAY SHOWS SIGNS OF IMPROVEMENT IN BC AND ALBERTA

    Kolbi Turner   |  

    Dr. Sherry Cooper

      DR. SHERRY COOPER

      Chief Economist, Dominion Lending Centres

    Mortgage Brokers In Vancouver

    Statistics released late last week by the Canadian Real Estate Association (CREA) show that national home sales increased in May. Together with monthly gains in the previous two months, activity in May reached its highest level since early last year when the new B-20 stress testing was introduced. While last month’s home sales stood 8.9% above the six-year low posted in February 2019, this latest uptick has only just returned May’s sales level to its 10-year historical average (see chart below). Nationwide, sales were up 1.9% month-over-month, and relative to a year ago, sales rose 6.7% marking the biggest year-over-year gain since the booming summer of 2016.

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  • BANK OF CANADA MAINTAINS OVERNIGHT RATE AT 1-3/4%

    Kolbi Turner   |  

    Dr. Sherry Cooper

      DR. SHERRY COOPER

      Chief Economist, Dominion Lending Centres

    Mortgage Brokers In Vancouver

    In a terse statement, the Bank of Canada maintained its benchmark overnight rate for the fifth consecutive meeting and stated that economy was performing in line with the projections in the Bank’s April Monetary Policy Report (MPR). Following a slowdown in economic activity late last year and in the first quarter of this year, the Bank’s press release said that evidence was mounting that economic growth was rebounding in Q2.

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  • POLOZ SAYS MORTGAGE MARKET SHOULD OFFER MORE OPTIONS

    Kolbi Turner   |  

    Dr. Sherry Cooper

      DR. SHERRY COOPER

      Chief Economist, Dominion Lending Centres

    mortgage brokers in Vancouver

    In a speech early this week, Bank of Canada Governor Stephen Poloz said that it is time for some fresh ideas for Canada’s mortgage market. He suggested that changes could include encouraging longer than 5-year duration fixed-rate mortgage loans, the creation of a market for private mortgage-backed securities and the launch of shared-equity mortgages for first-time homebuyers proposed in the March federal budget.

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  • FEBRUARY HOME SALES WEAKEN SHARPLY–WAS IT WEATHER OR STRESS TESTS?

    Kolbi Turner   |  

    mortgage brokers in Vancouver

    Statistics released today by the Canadian Real Estate Association (CREA) show that national home sales dropped sharply from January to February, plummeting 9.1% to its lowest level since November 2012. The month-over-month decline was the biggest since the B-20 stress test was introduced in January of last year.

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  • FEBRUARY CANADIAN JOBS REPORT REMAINS STRONG, BUT SLUMP CONTINUES

    Kolbi Turner   |  

    mortgage brokers in Vancouver

    The employment report is the lone bright spot in an economy that has slumped across the board. According to today’s jobs report from Statistics Canada, the economy added 55,900 net new jobs last month, all of them full-time positions. This is the second consecutive monthly job surge for an economy that has barely grown in the past five months (see chart below).

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  • Q3 CANADIAN GDP GROWTH SLOWED ON THE BACK OF WEAK HOUSING AND BUSINESS INVESTMENT

    Kolbi Turner   |  

    Dr. Sherry Cooper

      DR. SHERRY COOPER

      Chief Economist, Dominion Lending Centres

    This morning, Stats Canada released the third quarter GDP figures indicating an expected slowdown to 2.0% growth (all figures quoted in annual rates), compared to a 2.9% pace in Q2. Over the first three quarters of this year, quarterly growth has averaged 2.2% which is down from the 3.0% annual growth recorded in 2017. The Canadian economy is at or near full capacity, so slower growth is not a bad thing.

    However, while the headline growth of 2.0% was on trend, the details of the report are troubling.

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  • CANADIAN HOME SALES WEAKENED IN OCTOBER

    Kolbi Turner   |  

    Dr. Sherry Cooper

      DR. SHERRY COOPER

      Chief Economist, Dominion Lending Centres

    Statistics released today by the Canadian Real Estate Association (CREA) show that national home sales declined for the second consecutive month in October, edging back by 1.6% month-over-month (m/m) and down 3.7% from year-ago levels. Year-over-year sales in October are now about in line with their 10-year monthly average (see chart below). Existing home sales activity has picked up from levels early this year, but it is still considerably below the boom days of 2016 and early-2017 before the foreign purchase tax was introduced in Ontario (in April 2017), the new OSFI rules were implemented (in January 2018), and Bank of Canada tightening gained momentum.

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  • Oops! Six Mistakes to Avoid When Shopping for a Mortgage!

    Kolbi Turner   |  

    For most people a mortgage is the biggest debt we will ever carry and a home is the most expensive purchase we will ever make. This is why it is absolutely crucial to avoid mistakes that cause you to pay more than you should or even jeopardize your ability to qualify for a mortgage.

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  • Season's Greetings from Kolbi Turner

    Kolbi Turner   |  

    Season's Greetings from Kolbi Turner

    Wishing you a Merry Christmas and Happy Holidays from my family to yours. Happy New Year and all the best in 2018 and beyond!

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  • What My Customers Are Saying About Me

    Kolbi Turner   |  

    What My Customers Are Saying About Me

    At Kolbi Turner, I am proud of the work that I do. But, instead of telling you why my customers love me, I’ll let them do the talking! Here’s what some of my customers are saying about me lately:

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  • A Five-Point Checklist to Help You Hire the Best Mortgage Broker

    Kolbi Turner   |  

    A Five-Point Checklist to Help You Hire the Best Mortgage Broker

    You’ve been searching the right neighborhoods to find your “that’s it!” house and picturing yourself making a home there. Dreaming about your future home is great, but there’s plenty to do before you start house hunting for your dream home.

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  • Business Spotlight: Kolbi Turner

    Kolbi Turner   |  

    Thanks for stopping by our blog. If you’re looking for more information about Kolbi Turner, you’ve come to the right place.

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  • Owner Spotlight: Kolbi Turner

    Kolbi Turner   |  

    Owner Spotlight: Kolbi Turner

    I’m Kolbi Turner, proud mortgage and refinancing specialist in Vancouver, BC.

    I look forward to sharing my story and hope that you will enjoy getting to know me better.

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  • Announcing The New Website

    Kolbi Turner   |  

    Announcing new website

    We are delighted to announce the launch of our new website!

    Our new website provides our existing and prospective clients a simple yet interactive view of our work and the services we offer. 

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  • New Website Under Construction

    Kolbi Turner   |  

    New Website Coming Soon!

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